PPF closes purchase of RAV Agro-Pro - Vedomosti
MOSCOW. July 27 (Interfax) - PPF Group, whose leading shareholder is Czech billionaire Petr Kellner, has closed the deal to purchase RAV Agro-Pro, the business daily Vedomosti reported citing a company representative. It is PPF's first foray into Russia's agricultural sector.
The Federal Antimonopoly Service (FAS) previously cleared Netherlands-registered Bavella B.V., acting on PPF's behalf, to purchase 100% of RAV Agro-Pro.
RAV Agro-Pro had been owned by the funds RP Capital and Black River Commodity Investment Partners and a group of individuals that included the deputy head of the Voronezh regional administration for agriculture Anatoly Spivakov.
RAV Agro-Pro, which operates in Voronezh, Rostov and Orel regions, produces and processes grain, provides grain storage and is engaged in livestock production. The company controls 150,000 hectares of land.
PPF in Russia owns stakes in electronics and home appliance retailer Eldorado, Polymetal, Nomos Bank and Ingosstrakh . It also owns Home Credit and Finance Bank, the Russian leader in the POS loan market.
RTS$#&: INGS, NMOS
